Neuberger Berman has launched a private equity European Long-Term Investment Fund (ELTIF) which will also be made available to non-institutional investors.
The minimum investment threshold of the fund is €50,000, while its expected lifespan is eight years, having been shortened from the more traditional length of 10 to 12 years.
The strategy will have a strong bias towards buyout opportunities, and will mainly be invested in Europe and North America with diversification across industries, according to José Luis González Pastor, managing director at the employee-owned investment manager.
“This fund has an innovative structure that breaks down the barriers faced by non-institutional investors investing in this asset class,” he said.
José Cosio, head of intermediary, Emea and Latin America, added: “Private equity investing is more central to the modern portfolio than ever given its attractive diversification and long-term return characteristics.
“It is already a key component for many large institutions around the world, including public and pension funds, and this new fund will allow a new generation of savers access to private equity’s differentiated return profile in an efficient way.”
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